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tv   Forbes on FOX  FOX Business  September 8, 2013 9:00am-9:31am EDT

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i don't see any point in it at all. >> neil: all right. front and center. it will be all anybody is talking about next week. presidential address next tuesday night. we'll cover it live as nation once again on the brink of war. here's dave. ♪ ♪ >> david: well, get this. the very folks supporting the president the most are sll hurting the most. take a look at this. while the nation's unemployment rate is now at 7.3%. it's much higher for the president's biggest fans. meanwhile, household income, for those same groups dropping. much more than the national average. under this president. and some here saying this is proving the administration's policies are hurting, not helping. but are they right? , i'm david asman. welcome to "forbes on fox." john tandy, rick unger, elizabeth macdonald, is a dryia schaefer. and the very people who fought hardest for the re-election
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are the ones hurt the mostpy the policies. >> yes, they are. the research is clear. what is interesting is you must blame the obama administration. we have infinite wants and we get up to work to fulfill the wants. the only time economies are slow for extented period are when the government are putting up barriers to the tural ability to work. obamacare inhibits hiring hiring and government spending staffs capital. weak dollar drives away investors. that is what is keeping the economy down. the good news is if they reverse the policies, the economy will soar again. >> david: nice to know good news on the horizon if we do the right thing. why is it the very people this president is fighting the hardest for are hurting the most? >> what i like to say about this is it takes two to tango. i won't sit here and tell you the policies are working. the numbers you quote are accurate. thin are not good for those
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people. president cannot do this on his own. i want to read you somhing. one of our colleagues who we have had on the show, dan mitchell, libertarian scholar from the cato institute wrote he doesn't believe that obama deserves the full blame. he said started before he got there. he deserves part of the blame, not all the blame. but what about congress? is >> david: we are talking about policies, though. that is the point. the policies that the president are -- by the way, this president had the congress, both houses of congress for two years, rick. that didn't seem to help either. >> eight months. >> two years. emac, the fact is we're focusing on policies. i don't care who is the president. i care which policy that president has. these policies aren't working. >> the ministry whitewash is in full overdrive right now. the press sinct of the for precinct of the far left
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idealogue. they are hearing from the companies siding health reform is hurting them. they are hurting their job prospects at the companies. goldman sachs saying it, mercer saying it, donald trump atrump --richard trumka at the o saying it's creating part-time nation. record people are part-timers. >> david: morgan, here is where will blame the president. past democratic presidents that followed policies that haven't worked changed the policies like bill clinton, for example. bill clinton, the first couple of years, it wasn't working. then he started workin working a not a moderate, newt gingrich. republican newt gingrich led congress with a democratic presidency, bill clinton. got real reform. for example, welfare reform. >> yeah, he should take a look at tt. look at the polls. we have seen the demographics, the popularity has gone down in the last couple of months. in large part, the policies haven't been working. to more precise. we haven't seen a lot of policies.
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to rick's point a lot of that is congress is striking stuff down. one of the policies that president obama was looking to push through was an infrastructure bill. and that would have created construction jobs. when you look at the most vulnerable demographics of the american workers it's the folks that lost their construction jobs. these are the folks that voted for obama. this would create jobs for them. >> david: even this president will say, he will give lib service to the fact it's the private sector, not the public sector that creates jobs. if you have public sector jobs you get it from somewhere. guess where it comes from? the private sector. >> president obama, david, should look at jfk as the model. jfk was a defense hawk. but he cut marginal tax rates which helped get the economy going. where the president doesn't fete it, where his policies are wrong, is that he views the economy as a zero sum game. which is if one person does well, then somebody else is doing badly. that is not the case. the large amount of government spending. obama huge tax inease.
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big regulations like obamacare have killed incentive for businesses to invest, which is why if you look at the total number of people employed in the country, as well as those looking for work, we are at the lowest level we have been in 35 years. >> david: well, the most important thing is business invest in is people. to mike's point, sabrina, the unemployment figures just came out on friday. showed that the people suffering the most are ironically the people the president says he is working hardest to help. >> right. i hope that the 69% of women who supported president obama last november are paying attention right now. the fact is that overall unemployment for women is 6.5%. for african-american american it's 10.5%. hispanic women, 9%. these are bleak numbers. the fact is policies like the workplace regulation, lily ledbeder pay act hurt women. they make it harder to get part-time work and less flexible in the workplace.
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obamacare, we talk abbottabad negotiating the specific benefits for women. what about the cost to their pocketbook at home. to the economy at large. and the freedom. none of this is discussed in terms of how this hurts women and their families. >> david: john, again, the best the president has offered, to help the people are the government programs. the stimulus programs. most of the stimulus programs some were tax deductions, but most of it was spending. taking money directly out of the private sector, because that's where the government money comes from. redistributing it. who is the best allocator of capital? is it the folks in government? or is the folks in the private sector? >> by definition, it's the people in the private sector. that is the problem. economic growth is so simple,pae ours, all the government has to do is spend less, tax less, keep the dollar stable. alow to us trade freely. you would see the economy soar, because we have a lot of wants and if we're allowed to produce for the wants we will produce a lot. just get government out of the
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way. stoprying to fix the economy. fixes are the problem. >> david: rick, when you have the government allocate -- who do you think allocates capital better? maxine waters, nancy pelosi, barney frank or steve jobs or people of his illk? >> all of the above. >> david: wait a minute. you would put steve jobs in the same category as nancy losi? >> i really don't. i admit it. i don't. but let me point a few things out quickly. a buddy of mine that is the founder of the new york state tea party suggested i run an exercise. i suggest you do the same. go to john boehner's website and in the search area the following words. "minority employment. minority unemployment." anything like that. you know what you find? absolutely nothing. if the speaker of the house is not working on snore in terms of spending government money? >> just to see if he -- >> help a particular group. >> even talking about it. >> he is talking about it. >> no, he is not. go to his website and you'll see it. >> if they want to help
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minority, a huge part of the president's base, maybe they shouldn't at war against the educationage freedom opportunities like in louisiana. this is unbelievable. we are talking about women, minorities and the poor. wrapped up in one. this is an administration that is hostile to educationm freedom. >> david: emac? >> do your point, bring the $2 trillion in corporate cash overseas to create jobs here. you know how you do that? turn the u.s. in a tax haven instead of creating ways to avoid taxes. even the i.r.s. taxpayer advocate says the complexity creep is hurting the u.s. economy. >> david: emac, the president already said he will veto that. >> that makes me crazy. now ve a debt ceiling fight coming up. he wants more taxes. health reform has more taxes. we have fast food workers striking thinking that is a full-time job. wal-mart workers striking thinking that is a full-time job. it's not. >> this is what kills me. when the income levels of america goes down. that not only hurt the people whose income is going down. of it hurts business.
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businesses can't relyn customers to buy things if people have less money in their pocket. it's marly the minority youth. latino, single mother are hurt the hardest. >> for obama's policy, the reason why the stimulus didn't work. we have the worst recovery since the '30s, what happens if the government funnels money to bridges and roads it's just temporary. if businesses invest money that is creating permanent jobs. >> david: what is true is the people he is trying to help the hardest hurt the most. we have to leave it at that. up next, check out the fire. 11-arm blaze. firefighters having serious trouble containing it. why? because of solar panels. that has some here call um... where's mrs. davis?
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she took an early spring break thanks to her double miles from the capital one venture card. now what was mrs. davis teaching? spelling. that's not a subject, right? i mean, spell check. that's a program. algebra. okay. persons a and b are flying to the bahamas. how fast will they get there? don't you need distance, rate and... no, all it takes is double miles. [ all ] whoa. yeah. [ male announcer ] get away fast with unlimited double miles from the capital one venture card. you're the world's best teacher. this is so unexpected. what's in your wallet?
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>> david: well, take a look at this. an 11-alarm fire raging at a meat warehouse, this is in new jersey. firefighters having a tough time putting out the blaze. why? solar panels. first responders had trouble accessing the roof and were worried about getting shocked from the panels. sabrina you say there is another reasonhy taxpayers should not pay for the green agenda, right? >> that is right. there is nothing inherently wrong with the green agenda, as long as the market is determining a need for it rather than a government pushing the taxpayers to support unproven or premature technology. one of the problems we have seen with the example like to fire, a lot of times the are
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unintended consequences of the project. the fuel efficiency standard, led to the car industry creating lighter cars to meet the new standards. many times the cars are much more dangerous. a lot of times there is unintended consequences that the government not considered. >> david: that is a big unintended consequence. morgan, since 2009 spent $20 billion on various solar projects. isn't that too much? >> i think we need to be spending on the solar projects if we want to compete with china on the world stage and the arena. yes, we need to spend on solar. this isn't indicktive of the greensh -- indicative of the green wasteful money. this is more indicative of the fact when you have a new technology come in, it has blow-back. whatever the technology is. this is indicktive people in new jersey and around the country have to figure out the fire code and building regulations. we are seeing this in other areas, too. europe, england. >> david: the interesting thing is emac, we have kno about the dangers for firefighters of solar panels
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for a while. it was 2011, two years ago, underwriters laboratory had a big study saying solar panels cannot be easy deenergized. there is no big circuit switch to pull down because each panel is an energy source in and of itself. they are inherently a fire strap, right? >> they are inherently a fire trap. we are talking about an out of control chemical fire because of the batteries there the firefighters face electric shock. >> david: you are from a firefighter family. you know what you are talking about. >> it's hard to cut ventilation holes through the solar panels to get the fire out. we are talking about the structural collapse. these are massive 300-square feet projects that is a challenge for the firefighters. the problem here is quality, too. you have bad defective solar panels up on the roofs. "new york times" even reported up to a fifth of them have defects, the solar panels. watch out. some of the panels coming in from china could be defective
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as well. >> david: you wonder if we were in a free market world, what they'd pick this at all. >> guys, c'mon. i have to say this. this is one of the great stretches we have ever had. this is like saying when we put electricity in homes all the years ago, you know what? it creating more danger for fire and firemen. >> david: that w the free market that did that. we have $20 billion of our tax dollars since 2009 going in technology that ain't working well. >> you are arguing because there are some fire issues here that that is the problem. >> they're huge. [ overtalk ] >> solyndra. >> yeah, yeah, yeah. stick with the issue you put on the table. >> these are the facts. >> the national fire protection association has not suggested getting rid of solar. you know what they suggested? they want to mount warnings on the wall of buildings that have the solar panels and they want to -- i'm going to finish, thank you. they want to train firemen to deal with this. >> david: all the nanny state rules and regulations, seem to go out the window when
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it's a government supported program, right? >> absolutely, david. >> when the government gets involved in basic research, that's fine. that is a good thing. the government should be involved beyond that. >> david: mike, isn't it something, though, that the government has a stake, when the government has a $20 billion stake in something. they are willing to let other rules and regulation goes by the wayside. >> huge conflict of interest. >> david: go ahead, john. john tandy. >> i'm going to even disagree th mike. the government should not be a venture capitalist ever. the simple truth, if you have a clue how to invest, you don't work in government, you make money in the private sector. it goes back to your earlier point. whom do you trust to allocate capital? paul tutor jones, paulson and warren buffett? or john boehner, barack obama and harry reid. the question answers itself. if they invest a dollar, they
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waste our money. >> david: real quick, morgan. >> emac hit the nail on the head. deaf fecktive solar panels from china. we need to create our own because this is a technology that will move forward. for record, less than 1% of the 1300 projects funded by the energy department have gone bankrupt. >> david: 30% of the money came from taxpayers. the blitz is on to sell the healthcare law. the government buying ad time to promote the law at nfl game. is this ad blitz a waste of tax dollars? that is at the bottom of the hour and "cashin' in." but right here, half of emplers say workers in the 20s have a poor work ethic. some of the forbes crew say bosses have this wrong. that is the flip side, coming next. >> i generally come in at least 15 minutes late. i use the side door. that way they can't see me. and after that i just sort of space out for about an hour.
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♪ ♪ >> david: so do young folks have a poor work ethic? nearly half of all bosses say generation "y" workers don't get it. on the flip side, john you say that is a bad and unfair p. explain. >> this is nonsense and it's historically ignorant. i'm from generation "x." they said about my generation in the early '90s we were goatee-rubbing slackers who would never get beyond folding shirts a in the gap and living with our parents who achievements we would never
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outdo. in a few years and good government policies from both sides when they got out of the way, generation "x" was the richest generation in the history of the richest nation on earth. generation "y" is not unambitious, it similar my has too many barriers put in its way. when those are removedded it will soar. >> david: getting back to a past segment, if we have the right policies, generation "y" will work as hard as anybody >> i'm not so concerned about the policy as much as technology. i think a lot of young people don't realize how good they have it. the fact is if you want to be a writer today, set up a blog. if you pant to be a journalist get a cam are and computer and have thousands of viewers. there is a sense if you went to a good college and had a good gpa it should be handed to it. they forgot no one cares about the transcript. get to work to show us how good you are. >> david: a little entitlement mentality in generation "y"? >> no. is john tamny a gen-x?
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i think he is a boomer. [ laughter ] news flash, i'm a boomer. >> i am the boomer of all boomer. >> uncle cranky pants baby boomer. every generation made complaints about the general race coming behind them. i will tell you something, they are great with technology, creative. multitasking. they want more freedom. not as hierarchal. >> david: genuine generation "y" with morgan. what do you think? >> we get unfair rap. it's generationage gibberish. baby boomers was the hippie generation there. if you look at my spill my milll group we are the only one to see the generationm income drop. is there is a lot going on. not entitlement. >> david: what do you think? >> this is old geyser talk. wals without shoes on glass to school.
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>> on glass? >> david: coming up, the stocks the informers say will pay you even in the market falls. that's next. copd makes it hard to breathe... but with advair, i'm breathing better. so now i can help make this a great block party. ♪ [ male announce ] advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms
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>> david: what about this crazy marx? we're back with stocks that pay you no matter what the market does. way up or way down em mack, talk about the dividend-paying stocks.
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you like these. >> the u.s. dividend growth. etf. cheap, cheap, cheap. the trading costs are not in there. they have megacap stocks like home depot, microsoft, pepsi, procter & gamble. i like this one. >> david: morgan, best of all, not only do you gain if the stock goes up but they pay dividends every quarter. >> i like this. this is a new etf. there is not a lot of history of the performance. whatever you put in here, be patient and ride it out. >> david: the big stocks, companies are not going under soon. morgan, prospect capital corporation. what do they do? >> a bdc, business development company. it operates like a reet that it passes through a lot of the profits to the shareholders. so it has a hefty 12% dividend. it writes low-risk high quality loans to businesses that can't afford them elsewhere. i think this is a really great option. especially if the rate goes up. >> david: emac you like it? >> 90% of the holding, though, are floating rate interest --
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floating rate instruments. watch out. this is an interest rate play. >> david: thank you very much. that's it for "forbes on fox." have a wonderful weekend. thank you for watching. keep it here. the number one business block continues with eric bolling and "cashin' in." ♪ ♪ >> eric: it's the battle over the cost of freedom. not ours. theirs. syria's freedom. our tab. so, what would cost us more? attacking syria or doing nothing? plus, the blitz is on to sell you on their healthcare law. as the nfl season kicks off, the government is running commercials in the nfl to promote obamacare. guess who is getting sacked with that bill? speaking of bills, remember this? >> i experimented with marijuana a time or two. and i didn't inhale. >> eric: bill clinton says he didn't inhale but a lot of americans are. more folks smoke pot as more states look to legalize it and tax it. "cashin' in" cutting through the smoke and mirrors starts right now.

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